Kolkata Court December 1988 Judgments
Kusum Products Ltd. Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Dec-29-1988
Reported in: (1989)29ITD293(Kol.)
1. This appeal filed by the assessee is against the order of the CIT(A) dated 23-2-1987 for the assessment year 1974-75 for which the previous year ended on 31-3-1974.2. According to the ITO, the return for the assessment year 1974-75 was filed on 31-7-1974 showing total income of Rs. 53,64,400. In the profit and loss account for the year ended 31-3-1974, an amount of Rs. 2,77,708 was credited under the head "Interest on unsecured loans etc." In the details filed by the assessee for this amount of Rs. 2,77,708, the following was included ;Interest Under Section 214 allowed in Asst. Orders 1,14,212.00for the Asst. Year 1967-68 50,558,00 1971-72 1,64,700,00 The ITO noticed that in the return of income filed by the assessee, the assessee deducted the amount of Rs. 2,04,384 from total income of Rs. 66,66,214. The amount of Rs. 2,04,384 was shown against the head 'Any other expenditure/deduction claimed under Sections. 28 to 44D' and that the said amount of Rs. 2,04,384 included Rs. 1,14,2...
Tag this Judgment!Himalaya Co. Ltd. Vs. Income-tax Officer.
Court: Kolkata
Decided on: Dec-28-1988
Reported in: [1989]30ITD139(Cal)
ORDERPer Shri A. Satyanarayana, Accountant Member - This appeal filed by the assessee is against the order of the CIT (A) dated 12-9-1986 for the assessment year 1979-80 for which the previous year ended on 31-12-1978.2. The assessment of the assessee for the assessment year 1979-80 was completed under section 143(3) on 29-10-1981 computing the total income at Rs. 96,189. Out of the total income so computed, there was business income of Rs. 65,079 and dividend income of Rs. 31,360 after allowing the deduction under section 80M. In the course of the assessment, losses carried forward from earlier years were not set off inadvertently. The assessee filed petition under section 154 on 1-3-1985 claiming set off of the losses carried forward. The ITS on scrutiny of the assessment records of assessment years 1976-77 and 1977-78 found there were unabsorbed business losses if Rs. 26,623 and Rs. 87.752 respectively. Since there was a mistake apparent from the record, he passed an order under sec...
Tag this Judgment!Smt. Chanda Devi Saraf Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Dec-26-1988
Reported in: (1990)32ITD518(Kol.)
1. This appeal filed by the assessee is against the order of the AAC dated 29-10-86 for the assessment year 1962-63 for which the previous year ended on 31-3-62.2. In the assessment made under Sections 143(3)/147 on 7-3-83 the ITO stated as under:- In response to the notice Under Section 148, Sri Kanhaiyalal Saraf, the legal representative of the deceased assessee filed a return showing a total income of Rs. 1,206 as was shown in the original return filed in 1965. This amount represented interest income from Carry Co. The legal representative of the assessee filed a letter dt 18-4-79 along with the present return inter alia stating that the notice Under Section 148 was not valid and that the return was filed under protest. It was also stated that in the return there was only interest and there was no other income during the year. Sri K.C. Agarwal A/R appeared from time to time in response to the notice Under Section 143(2) when Sri R.L. Saraf, Accountant was also present. During the c...
Tag this Judgment!In Re: Bajrangbali Engineering Co. Ltd.
Court: Kolkata
Decided on: Dec-23-1988
Reported in: AIR1989Cal356,[1991]70CompCas488(Cal)
ORDERSatyabrata Mitra, J. 1. This is an application for winding up of Bajrangbali Engineering Company Limited having its registered off ice at No. 66. G.T. Road, Liluah. Howrah, hereinafter referred to as the 'company'. The petitioners are the executors of the Will of one Mriganka Mohan Sur, since deceased. The said Mriganka Mohan Sur was the owner of more or less 49 bighas of lands comprised in premises No. 135, Girish Chose Road and 11/2, GuhaRoad, Ghusuri, P. S. Bally, District Howrah. The said Mriganka Mohan Sur died on 3-11-1983 leaving a Will whereby he appointed the petitioners herein as the executors thereof.2. Without going into details of the history as to how the claims in this petition arose, it will be suffice to state it shortly that the instant petition is founded on the basis of three ex pane money decrees passed against the Company, i.e. in favour of the petitioners by the Second Subordinate Judge, Howrah. The particulars of the suits and the decrees obtained therein a...
Tag this Judgment!Commissioner of Income-tax Vs. Benarashilal Kataruka
Court: Kolkata
Decided on: Dec-23-1988
Reported in: [1990]185ITR493(Cal)
Ajit K. Sengupta, J.1. At the instance of the Commissioner of income-tax, questions of law have been referred to this court under Section 256(1) of the Income-tax Act, 1961, for the assessment year 1977-78.'1. Whether, on the facts and in the circumstances of the case and on a correct interpretation of Section 2(14)(ii) of the Income-tax Act, 1961, silver utensils are personal effects of the assessee ? 2. Whether, on the facts and in the circumstances of the case, the surplus on the sale of silver utensils is liable to capital gains tax ?' The facts relating to this question are stated as follows :The assessee made a disclosure under Section 3(1) of the Voluntary Disclosure of Income and Wealth Ordinance, 1975, and one of the itemsincluded therein was silver utensils weighing 200 kgs. valued at Rs. 8,000. Out of the said 200 kgs. the assessee claimed to have sold 49.521 kgs. of silver utensils for a total consideration of Rs. 54,859 and credited the said amount in his books of account ...
Tag this Judgment!Samarjit Chakravorty Vs. Nandalal Karmakar and anr.
Court: Kolkata
Decided on: Dec-23-1988
Reported in: (1989)1CALLT261(HC),93CWN962
S.K. Mookherjee, J.1. The subject matter of the present Revisional application is Order No. 121, dated 7th of July, 1987 passed by the Learned Judge, 11th Bench, City Civil Court, Calcutta in Ejectment Suit No. 790 of 1972.2. The relevant facts are somewhat chequered. A Suit for eviction was partially decreed. While the said decree was put into execution an objection was taken on behalf of the tenant under Section 47 of the Code of Civil Procedure which was registered as Misc. Case No. 370 of 1984. The said objection having been dismissed, a Revisional application was preferred before this Court on which Civil Rule No. 3421 of 1984 was issued. While deciding the said Civil Rule it was directed by the Learned Single Judge, hearing the Rule, that the Trial Judge would apportion the rent in terms of Section 13(4) of the West Bengal Premises Tenancy Act in Ejectment Suit No. 790 of 1972 in exercise of his powers under Section 151 of the Code of Civil Procedure. When the matter was put up b...
Tag this Judgment!Commissioner of Income-tax Vs. G. Basu and Co.
Court: Kolkata
Decided on: Dec-22-1988
Reported in: [1990]182ITR472(Cal)
Ajit K. Sengupta, J.1. The assessee was a firm of chartered accountants and the assessee had undergone a change of constitution when some erstwhile partners retired from the firm and, in terms of the deed of retirement, certain specific items of outstanding fees were to be paid to the retiring partners after these had been collected by the present assessee. The Income-tax Officer, however, assessed these outstanding fees as the income of the present assessee on 'receipt basis' as the assessee's accounting system was cash.2. In appeal by the assessee, the Appellate Assistant Commissioner of Income-tax held that the amount of Rs. 1,37,518 as has been added by the Income-tax Officer, cannot be the income of the present assessee as the said income was never received or else was receivable by the present assessee. He further held that the said amount of Rs. 1,37,518 as such cannot constitute income in the hands of the present assessee. The addition was, accordingly, deleted and the assessee...
Tag this Judgment!Commissioner of Income-tax Vs. Soorajmal Nagarmull
Court: Kolkata
Decided on: Dec-22-1988
Reported in: [1990]181ITR340(Cal)
Ajit Kumar Sengupta, J.1. At the instance of the Commissioner, the following two questions have been referred to this court under Section 256(2) of the Income-tax Act, 1961 ('the Act'), for the assessment year 1957-58 :'(1) Whether, on the facts and in the circumstances of the case, the Tribunal ignored relevant evidence and relied on irrelevant materials in holding that the jewellery found in the premises occupied by the assessee as its business premises did not belong to the assessee, and in that view upholding the order of the Appellate Assistant Commissioner deleting the addition of the value of the jewellery included in the assessment of the assessee ? (2) Whether, on the facts and in the circumstances of the case, and having regard to the fact that the Appellate Assistant Commissioner had upheld the validity of the proceedings initiated under Section 147(a) of the Income-tax Act, 1961, and the assessee did not challenge before the Tribunal such finding of the Appellate Assistant ...
Tag this Judgment!Commissioner of Income-tax Vs. D.S. Blackwood
Court: Kolkata
Decided on: Dec-22-1988
Reported in: [1989]178ITR470(Cal)
Ajit K. Sengupta, J.1. The assessee is a permanent employee of John Brown Engineering (Clyde Bank) Ltd., Scotland, U. K. The said concern was entrusted with the work under an agreement with the West Bengal State Electricity Board for erection of gas turbines at Kasba (Calcutta), Siliguri and Haldia. In connection with the aforesaid work, the U. K. firm deputed the assessee-engineer to India, from time to time, to superwise the erection work. While staying in India the assessee was provided with rent-free accommodation. The Income-tax Officer was of the opinion that the rent-free accommodation provided by the foreign company was in the nature of a perquisite. He, therefore, added a sum of Rs. 40,111 as perquisite under rule 3 of the Income-tax Rules, 1962. When the matter went up in appeal before, the Commissioner of Income-tax (Appeals), he deleted the addition of Rs. 40,111 on the ground that the assessee was on tour to India and the benefit of rent-free accommodation was exempt under...
Tag this Judgment!Sanjay Dalmia Vs. Additional Collector of C. Ex. and Customs
Court: Kolkata
Decided on: Dec-22-1988
Reported in: 1989(22)ECC16,1991(55)ELT518(Cal)
Manashnath Roy, Actg. C.J.1. Section 23 of the Contempt of Courts Act, 1971 (hereinafter referred to as the said Act), empowers the Supreme Court or, as the case may be, any High Court, to make Rules, not inconsistent with the provisions of the said Act, for any matter relating to its procedure and in terms thereof, our High Court in exercise of such powers and also in exercise of its powers under Article 215 of the Constitution of India, framed Rules regulating to procedure, in Contempt of Court matters itself or of a Court subordinate to it and those Rules (hereinafter referred to as the said Rules), came into force on and from 1st September, 1975, on incorporation under Notification No. 10171-G dated 2nd Aug. 1975 and the same was published in the issues of the Calcutta Gazette dated 18th September, 1975.2. In this appeal which was presented on 23rd June, 1988, against orders dated 1st June, 1987 and 21st June, 1988 as made by a learned Single Judge of this Court in an application f...
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